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What is the most effective way to prioritize competing projects?

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As an industrial engineer, you may often face the challenge of managing multiple projects with different goals, deadlines, resources, and stakeholders. How do you decide which ones to focus on and which ones to delay or delegate? In this article, we will explore some of the most effective ways to prioritize competing projects and optimize your time and productivity.

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Mostafa Zakaria

Senior Electrical Engineer at Raafat Miller Consulting (RMC)
Otávio Augusto, Eng.MSc.

Especialista em gest?o para resultados , professor do programa de MBA ,palestrante e praticante da inova??o Jugaad.
Stanley Aroyame

Maintenance Management|Reliability Engineering|Operational Excellence|Manufacturing Management|Data analysis|Project…

1 Assess the value and urgency of each project

The first step to prioritize competing projects is to evaluate their value and urgency. Value refers to the benefits or outcomes that each project will bring to your organization, such as revenue, customer satisfaction, quality improvement, or innovation. Urgency refers to the time pressure or constraints that each project has, such as deadlines, dependencies, or risks. You can use a simple matrix to rank your projects based on their value and urgency, such as the Eisenhower matrix, the MoSCoW method, or the RICE score. These methods help you categorize your projects into four quadrants: do first, schedule, delegate, or eliminate.

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Mostafa Zakaria

Senior Electrical Engineer at Raafat Miller Consulting (RMC)
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This is called CAPEX management which means Capital expending management as the high management meet and present the plan of the required projects need to be executed in the coming year or period and select priority of each project according to its cost and it's added value as how the cost will be returned af a profit and the most needed projects and with high value return to be put as first priority and so on taking into consideration actual calculations of cost estimation with inflation rate expected of each project. In some industries and when needed an urgent overhaul project for a production line this to be given a priority.

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Stanley Aroyame

Maintenance Management|Reliability Engineering|Operational Excellence|Manufacturing Management|Data analysis|Project Management|Continuous Improvement| I help businesses implement strategies to reduce cost by 43.10% |
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1. Clear Objectives and Planning: - Define precise project objectives and scope. - Develop a detailed project plan outlining tasks, timelines, and dependencies. 2. Risk Management and Adaptability: - Identify and mitigate potential risks throughout the project. - Maintain flexibility to adapt to changes and unexpected challenges. 3. Resource Optimization: - Efficiently allocate manpower, materials, and equipment. - Ensure resources are available when needed and utilized effectively. 4. Effective Communication and Collaboration: - Establish open communication channels among stakeholders. 5. Quality Control and Continuous Monitoring: - Implement robust quality control processes.

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Syed Fadzil Syed Mohamed

Fellow of The Institution of Engineers, Malaysia (FIEM)
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When managing several industrial initiatives, I've discovered that the most effective strategy is to prioritise them based on the relevance of the objectives. Improving critical infrastructure and safety comes first. Then, using deadlines and resource requirements, sequence the work, handling things with shorter deadlines and less resources first. Stakeholder demands are also taken into account; if a project benefits an important partner or client, I attempt to schedule it as soon as possible. With competing priorities, certain trade-offs are unavoidable; thus, ongoing communication with stakeholders is critical to realign expectations and ensure that the most important work is performed on time.

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2 Align your projects with your goals and strategy

The second step to prioritize competing projects is to align them with your goals and strategy. You need to consider how each project fits into your vision, mission, values, and objectives as an industrial engineer and as a part of your organization. You also need to consider how each project supports or conflicts with your current or future initiatives, plans, or programs. You can use a strategic alignment model, such as the balanced scorecard, the OKR framework, or the SMART criteria, to align your projects with your goals and strategy. These models help you define your key performance indicators, measure your progress, and adjust your actions.

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Matthew O'Connell

Industrial Engineer / Quality Assurance / ASQ Certified / Statistics / Operations Research
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Aligning a project with the company’s goals is critical especially as if described in the opening statement if the projects are “competing”. The majority of companies have limited resources and are already competing for what they need. If competing projects arise, criteria needs to be established for which one is completed first. Past experiences have focused on a “risk-reward” matrix along with establishing goals/strategy criteria. The goals criteria help to determine a smaller list of projects that will first be considered, while the risk-reward matrix helps prioritize which ones will be completed first to optimize time and resources.

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3 Balance your workload and resources

The third step to prioritize competing projects is to balance your workload and resources. You need to estimate how much time, effort, and money each project will require and compare it with your available capacity and budget. You also need to identify any gaps, overlaps, or dependencies among your projects and plan accordingly. You can use a resource allocation tool, such as a Gantt chart, a Kanban board, or a workload matrix, to balance your workload and resources. These tools help you visualize your project schedule, track your tasks, and manage your dependencies.

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4 Communicate your priorities and expectations

The fourth step to prioritize competing projects is to communicate your priorities and expectations. You need to inform your stakeholders, such as your clients, managers, team members, or suppliers, about your project decisions and rationale. You also need to set clear and realistic expectations about your project scope, deliverables, quality, and risks. You can use a communication plan, such as a stakeholder analysis, a RACI matrix, or a feedback loop, to communicate your priorities and expectations. These plans help you identify your communication goals, channels, frequency, and methods.

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5 Review and revise your priorities regularly

The fifth step to prioritize competing projects is to review and revise your priorities regularly. You need to monitor your project performance, feedback, and changes and evaluate their impact on your priorities. You also need to adapt your project plans and actions according to the changing circumstances and opportunities. You can use a review process, such as a SWOT analysis, a PDCA cycle, or a retrospective, to review and revise your priorities regularly. These processes help you assess your strengths, weaknesses, opportunities, and threats, and implement continuous improvement.

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6 Use a prioritization tool or software

The sixth step to prioritize competing projects is to use a prioritization tool or software. You can leverage technology to automate, simplify, and enhance your prioritization process and decision making. You can use a prioritization tool or software, such as a decision matrix, a scoring system, or a prioritization app, to use a prioritization tool or software. These tools and software help you collect and analyze data, compare and rank alternatives, and generate and visualize results.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Otávio Augusto, Eng.MSc.

Especialista em gest?o para resultados , professor do programa de MBA ,palestrante e praticante da inova??o Jugaad.
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In my professional journey, I faced the challenge of recovering a 40-year-old operation process with serious compromise to quality and production. Understanding the issues and anomalies took a month of walking the factory floor, followed by three months focused on analysis, action planning, and implementation of recommendations. The tool used for analyzing complex situations was the relationship diagram, and the subsequent steps followed the PDCA (Plan-Do-Check-Act) cycle. In summary, within 4 months, we were able to restore production and quality.

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Shadrick Kamfwa
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Relialistic Approach towards the goal set is vital. Alignment of human resource ( labour) with skills set maching the project is cardinal not forgetting motivating Labour to meet the set time frame for the project coupled with quality works.

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What is the most effective way to prioritize competing projects?

1

2

3

4

5

6

7

1 Assess the value and urgency of each project

2 Align your projects with your goals and strategy

3 Balance your workload and resources

4 Communicate your priorities and expectations

5 Review and revise your priorities regularly

6 Use a prioritization tool or software

7 Here’s what else to consider

Industrial Engineering

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What is the most effective way to prioritize competing projects?

1

2

3

4

5

6

7

1 Assess the value and urgency of each project

2 Align your projects with your goals and strategy

3 Balance your workload and resources

4 Communicate your priorities and expectations

5 Review and revise your priorities regularly

6 Use a prioritization tool or software

7 Here’s what else to consider

Industrial Engineering

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